Even though, In Vitro Fertilization (IVF) treatment for infertility came into existence several years ago, it has gained popularity in India only recently. This is a great gift for women, who cannot give birth to a baby naturally due to one reason another. Not only Indian women, but many foreigners are also visiting India to get this treatment. The reason is that in India the cost for this treatment is just one-third of the cost in their nation. In India, the cost of this treatment is around Rs.2,50,000, while in countries like US, it costs greater than $10,000. However, for an average Indian Rs.2,50,000 is not an affordable cost. Furthermore, this cost in addition to the other associated expenses can shoot up the family budget. This is why many couples search whether there are any insurance policies to cover infertility treatment.
BMB Nirbhaya as great relief:
Until January 2014, there was no answer to the questions of these couple, but now, Bharathiya Mahila Bank (BMB) has come forward to provide coverage for infertility treatment for women holding account with the bank. BMB has joined hands with New India Assurance to provide such a coverage. This policy called as BMB Nirbhaya will provide coverage for infertility treatment along with maternity.
What are the special features of the coverage?
• This policy is available for all account holders of BMB
• With this policy, women can get cashless facility
• Not only for infertility treatment, this policy will cover maternity expenses as well.
• The policy holders can get pre 30 days and post 60 days coverage for hospitalization
• Maternity coverage can be availed for first two children, if the coverage continues for at least 2 years without any break.
• The treatment for infertility will be covered only after 2 years if the renewal is done continuously without any break
• Day care expenses will be covered for any advanced treatment with less than 24 hours hospitalization
• Claim-free gynecological check up will be covered from the 4th year of the coverage
• Maternity expenses will be covered from the third year if the policy is continued without any break and it includes any expenses made for any miscarriages as well.
The sum assured for BMB Nirbhaya is between INR 1 lakh and 5 lakhs. In addition to providing coverage to IVF, gynecological checkup and maternity treatment, it also covers morbid obesity and earning loss due to critical health issues as well. The premium for 1,00,000 coverage is Rs.1745 for women aged 22 years.
With the increasing medical expenses, particularly with the advancement of medical treatment for infertility issue in women, this is a great relieving news for women worried about their infertility and the associated costs. Health care providers are requesting the companies operating in the insurance field to provide coverage for infertility treatment as the costs are higher to manage for average Indian couples. So, BMB has joined hands with New Indian Assurance to provide such a coverage for the women holding account with the bank.